Port of Tauranga Ltd

POT: XNZE (NZL)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	NZD 2.90	Wrg	Klmftkhgl

Port of Tauranga: Looking Fairly Valued for the First Time in a While

Adrian Atkins

Jun 28, 2024

Wide-moat-rated Port of Tauranga’s share price has fallen 40% from the 2020 peak and is now looking fairly valued, trading at a 4% discount to our unchanged fair value estimate of NZD 5 per share. It trades on a P/E ratio of 30 and offers a dividend yield of 3%, fully imputed for New Zealand residents. We think that’s about right for a high-quality stock with a good long-term outlook.

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